Because of the dramatic and rapid rise of the Cryptocurrency market, we can no longer dismiss the fact that Cryptocurrencies are a new form of payment for businesses and companies. You’ll need a Crypto payment gateway if you want to accept digital assets as a secondary form of payment. The Gateway will enable you to accept digital funds into your wallet and handle them as you wish.  Allowing clients to pay with Cryptocurrency will encourage more people to utilize your services and give them a favorable view of your company. Accepting Cryptocurrency payments sends the message to potential consumers that your company is advanced, adaptive, and quick to embrace new technology. It can also mean low fees, no chargebacks, and a simpler checkout procedure to reduce cart abandonment.  

What is Crypto Payment Gateway? 

If you own an eCommerce store, chances are you already offer bank and wire transfers as payment options. Consumers across the globe are seeking new ways to spend their Cryptocurrencies, and shops are starting to accept it as a form of payment. Payment gateways for Crypto allow sellers to accept any important Cryptocurrency as payment. Customers may pay in whichever Cryptocurrency they like, as long as the store accepts it. They also exchange Crypto for fiat (traditional cash), allowing for rapid transactions. Using the several different options available on these processors, merchants can easily automate payment. Customers can also choose from a wide variety of Cryptocurrency alternatives. Plus, there’s more. Other digital payment methods, such as wire transfer, chip, and pin transactions will be integrated with the payment method. 

1. AlfaCoins:

If you want to get technical, Alfacoins undercuts the competitors by charging 0.99 percent transaction fees instead of the standard 1%, but that 0.01 percent is unlikely to be the decisive factor if you pick it as your Crypto gateway. AlfaCoins’ versatility will most likely captivate you. You have a lot of control over what occurs throughout a transaction using AlfaCoins. What about that 0.99 percent fee you may ask? You have the option of paying it or passing it on to your consumer. Your exchange rate is locked for 15 minutes after an invoice is created, giving you modest volatility protection. The CoinSplit function allows you to assign a section of an invoice to a certain Cryptocurrency while leaving the rest to be paid in another currency including fiat. This allows retailers to control the amount of Crypto exposure they desire in any particular transaction. AlfaCoins accepts the following Cryptocurrencies:

• Bitcoin (BTC)
• Bitcoin Cash (BCH)
• Litecoin (LTC)
• Ethereum (ETH)
• Dash (DASH)
• Ripple (XRP)

Pros: 

• Payment methods are flexible
• Payment buttons are simple to set up
• A good reputation

Cons: 

• Only a few Crypto coins that are supported.

2. Coinbase Commerce:

Coinbase is one of the most prominent Crypto exchanges in North America, Italy, Spain, the Netherlands, and other high-value European markets. It not only has a large user base but is also backed by some of the world’s most powerful investors. Coinbase Commerce is one of the company’s newest products, allowing any retailer to take a variety of Cryptos and deposit them straight into their wallets.  

Coinbase is a common way of Bitcoin business transactions and is one of the most often utilized Crypto payment processors. The Coinbase software for retailers may be downloaded and used to receive fast Cryptocurrency payments. Coinbase is one of those payment gateways that provide great protection against price fluctuation due to its quick Crypto-to-fiat payment conversion. Almost all of the top eCommerce CMS platforms are compatible with Coinbase. Its charges begin at 0.5 percent plus a fixed fee is added.  

The service might be incorporated directly into the checkout process for merchants or provided as a payment option on major eCommerce platforms. They’ve just partnered with Shopify.  Clients can pay with the following Crypto coins:

• Bitcoin (BTC)
• Ethereum (ETH)
• Litecoin (LTC)
• Dogecoin (DOGE)
• Bitcoin Cash (BCH)
• USD Coin (USDC)
• DAI 

Pros: 

• Well-known company
• Conversion to fiat currency is simple and quick
• Two common eCommerce systems are supported

Cons; 

• Coinbase has a mixed reputation
• Each approach has trade-offs that you should carefully analyze. 

3. BitPay: 

BitPay has become one of the top Crypto payment gateways with an enhanced function that allows you to customize the withdrawal transaction speeds to whichever period is necessary. This option is extremely useful for businesses that wish to schedule withdrawals at regular periods. BitPay even features a two-factor authentication function that adds another layer of security to your account. BitPay provides a simple payment gateway that has been designed to be user-friendly even for non-technical merchants. BitPay has a daily transaction limit of $1000 and a yearly transaction limit of $10,000 before charging a 1% transaction charge. The disadvantage is that BitPay is only available in about 38 countries, and not all of them are supported.  

Although BitPay does not serve all nations, its key selling point remains the credit card to Bitcoin payment gateway that is available to US customers. You’ll have to pay a currency exchange charge of up to 3% when making payments outside of the nation. If you want to utilize BitPay to take Cryptocurrency payments on your website, you will be charged a one-time fee of 1%.  Users will find BitPay’s API-based product extremely intriguing and enjoyable. For further security, it also offers a multifactor authentication capability. BitPay provides multiuser capabilities as well as diversified cultural support in over 40 languages across the globe. BitPay has emerged as a trusted partner for some of the world’s most well-known brands, including Amazon, MasterCard, Delta, Bol.com, and many others. Cryptos accepted by BitPay:

• Bitcoin (BTC)
• Bitcoin Cash (BCH)
• Ethereum (ETH)
• Wrapped Bitcoin (WBTC)
• Dogecoin (DOGE)
• Litecoin (LTC)
• Gemini Dollars (GUSD)
• USDP
• DAI
• Binance USD (BUSD)

Pros: 

• Open-source Cryptocurrency payment processor with a lot of experience
• Protects retailers against market fluctuations
• Supports large-scale payments and invoice
• Supports a diverse range of Stablecoins

Cons:

• Market volatility protection can work in both directions
• Before any rewards are issued, there must be a minimum balance 

4. CoinsPaid: 

Coinspaid boasts a portfolio of over 700 merchants, 6 million clients, and more than seven decades of expertise in the Cryptocurrency industry. Coinspaid Now handles 5% of all BTC transactions on the on-chain. In 2020, the largest Cryptocurrency payment service processed for €1.25 billion in Crypto, with over 2.3 billion euro already managed last year in August 2021. Coinspaid had completed over 9.5 million transactions of eCommerce firms as of August 2021. It has SaaS transaction processors, personal wallets, and multi-currency enterprise wallets built-in. It accepts a wide range of Cryptocurrencies, including BTC, USDT, ETH, and other well-known digital coins. Via their Crypto wallet, merchants may accept, store, and trade Cryptos, as well as utilize them to pay for other expenditures. Sellers can also alter the Cryptocurrency accepted into traditional currencies like the US dollars (USD), Australian dollar (AUD), or British pound (GBP). Coinspaid allows customers to convert more than 50 currencies, along with at least 20 national coins. There's still no concealed or upfront cost throughout transactions, and there are no transaction fees of any kind.  

The Cryptocurrency processor accepts over 30 Cryptos for payment, including USDT, BTC, ETH, LTC, BCH, ADA, and DOGE, as well as 20+ fiat currencies for storage and payments like USD, EUR, GPB, AUD, JPY, CAD. Furthermore, CoinsPaid allows you to withdraw select fiat currencies straight to your bank account, setting a high standard for such services and positioning CoinsPaid as a contender for the title of best Crypto payment gateway in 2021. Aside from the service's high level of honesty, their commissions start at 0.8 percent, with the option of extra reductions dropping commissions to 0.4 percent when using the CPD token. They were also shortlisted for the AIBC Awards, where they won Payment Provider of the Year for the second year in a row.  

Pros: 

• More than 30+ Cryptos are accepted
• Several fiat currencies, including the Canadian dollar (CAD)
• Payments can be made in Crypto or fiat currency
• Integration is completely free
• Automatic Cryptocurrency withdrawals after a specific amount are reached
• Cold-storage funds are funds that are kept in a cold storage facility
• There are no monthly costs
• The fixed transaction cost of one percent
• Customer service is available 24/7

Cons:

• none   

5. Blockonomics: 

Blockonomics is one of the most sophisticated Crypto payment processors on the market. It's unchangeable, and it doesn’t require any third-party authentication or API integration services to encourage transactions. The payment mechanism has a lot of power and is well-protected. To pay using Cryptos such as Bitcoin, the user just have to scan the QR code on the merchant’s website or forms their electronic wallets (e-wallets). Because of Blockonomics’ integrated convergence with Shapeshift, it can handle a wide range of different Cryptocurrency assets. The platform charges a 1% fee. Blockonomics has been used by businesses in large economies including the US, UK, Germany, France, and Canada. 

Another amazing feature of Blockonomics is that there’s no complex sign-up or KYC procedure. You don’t need to validate your account or submit any private information while making a Bitcoin invoice because you’re not dealing with fiat currency. You have the option of being paid anonymously. Blockonomics is ideal for freelancers, small enterprises, and anybody with a side hustle because it works with WooCommerce, Shopify, Prestashop, Magento, and other online stores. 

Pros: 

• It's simple and easy to receive BTC to Bitcoin Cash payments
• There’s no KYC
• Bitcoin may be received anonymously
• Create fiat invoices and be paid in Bitcoin
• BTC is delivered to your wallet through the internet
• A 1% transaction fee is charged
• Bitcoin may be sent as a gift.

Cons: 

• Only 2 Cryptos are available. 

Disclaimer: The author’s thoughts and comments are solely for educational reasons and informative purposes only. They do not represent financial, investment, or other advice.